Moral of story - we consume more than we can find oil and produce ----

http://www.oildecline.com

Interesting article on whether oil production has peaked

http://peakoilbarrel.com/peak-oil-2014/

Interesting article on whether oil production has peaked

http://peakoilbarrel.com/peak-oil-2014/

1star- that is not oil era - that article is referring to economics of countries - please be more specific. Thank you

Saudi Arabia reserves depleting EP very fast

http://peakoilbarrel.com/closer-look-saudi-arabia/

Saudi Arabia reserves depleting EP very fast

http://peakoilbarrel.com/closer-look-saudi-arabia/

Crude Oil is depleting very fast

http://peakoilbarrel.com/world-proved-oil-reserves-fact-fiction/

Crude Oil is depleting very fast

http://peakoilbarrel.com/world-proved-oil-reserves-fact-fiction/

This article was written in March 2014

The true story for crude oi decline...

http://www.forbes.com/sites/louiswoodhill/2014/03/03/its-time-to-drive-russia-bankrupt-again/

DH - no wonder you have lots of enemies - you a full of shit!

DH - you keep arguing with everybody who raises a point here. And you have been wrong all this while! I am very sorry for you and the more you keep denying the truth the more you will hurt.

Saudi Controls OPEC - 30 million prodiction speaks volume. You keep on arguing with your rubbish. Norway is still not in the picture as the production cost os high!

I am not going to waste my time with losers like you.

DH - Saudi already won!

They have set the selling price. Not USA, Not Russia and of course not Norway - Norway was never in the picture.

The way it is going - Saudi decides the price of oil and everyone else follow. Look at the recent release of information when Saudi can tell USA what price they will sell and USA Cannot do anything about it.

This is likely to stay for 6 months to 1 year. Please go and do serious research and understand the FUNDEMENTALS of oil industry - a lot of shale producers will buckle up in a years time.

Is there any positive announcement coming out soon? We need some good news for our Christmas holidays and present.

Hibiscus has not started any operations yet so in reality they are protected by the recent downfall in crude price. In a way this is a blessing in disguise.

I heard Kitan they are still drilling to find more oil. The drilling rig is JACK BATES. it has been on site since October. Go to Rig Zone and you will see.

If Hibiscus were to proceed with this purchase, they still have a good head start as they purchase based on all sales of crude from January 1, 2014 up to now so their average price of crude sale would be in the region of the USD90 issh.

http://www.theguardian.com/commentisfree/2014/nov/30/falling-oil-prices-gives-west-chance-refashion-policies

This time it is the real deal - the oil war which will decide the future price of oil - and the fittest will survive - and I think the landscape for oil industry has changed for good as a result of OPEC not doing anything and letting the price slide. So who dares and can produce cheap - wins! The countries who already have the infrastructure and reserves in abundances will persevere and come out tops later on at the expense of oil price.

Ring - independent assessment is required especially now as we are now entering a new phase where oil prices will not see the US100/barrel for some time.

Anyone has more input on the viability of this deal is most welcomed. The lack of transparency is also worrisome as I cannot find a third party assessment report for this acquisition to place a fair price as this so not an arms-length exercise.

Thanks

Ring - based on what valuation ? Can you extend a copy here?

We know based on 2013 audited account and latest QR what the numbers are and they are now making a bit of sense.

If you can provide more valid information, that is welcomed.

Thanks Ozzie75 - wow! This company hoe Leong is getting worse by the years even Ebita has gone negative. What is really going on?

10.455 6.604 10.792 2.301 (0.096)

The question is to hold, reload and average down now or later, cut now and buy later when lower or just let go OR HAVE WE SEEN THE WORST?

We need to decide base on the best available information - not hearsay and not hopes and wishes. The reality so crude oil is already battered and we cannot do anything about it. We can however decide what we do next with our investment with the best of knowledge available at hand.

I hope this forum will become more informative and fact sharing.

Ho Leong 2013 audited account.

http://www.hoeleong.com/images/company/Annual%20Report/HLC_AR_2013.pdf

TigerSumantara - I appreciate your advise since you are well verse with this

Ho Leong is traded in Singapore exchange and closed at 0.05cents. It's market capitalization is 13.87 million only. How can they afford to service any loan?

EPS is negative = -0.05 cents


https://sg.finance.yahoo.com/q?s=H20.SI

Can you please provide any links?

Thank you!

Thanks TigerSumantara - now I am clear.

Sumatec owns 49% of Semua Shipping which owes the banks RM265milliom using Sumatec facilities and guarantees.

Where can we read about current health and business of Semua Shipping. I want to find out the capacity and capabilities to service loan at least for next 6 months.

This means Sumatec which owns 100% of Semua shipping use their facilities to finance and now owes RM265million?

TigerSumantara - Semua Shipping group is 100% subsidiary of Sumatec - see page 82 of audited 2013 report. That will not make sense in terms of contingent liability

Ozzie75 - page number please?

Ozzie75 - thanks for your response.

I am looking at this in two areas.

1. For one the amount has been reduced to RM265million from last year audited account, which is good news

2. However, although this is still contingent liability to Sumatec as it is a debt of associate companies but during crisis and hard times like what we are experiencing now, this liability can become real so Sumatec could end up holding the liability of RM265million.

Does anyone know who these associate companies are and what nature their business is and whether they have the capacities and capabilities to service the loan without burdening Sumatec?

Thanks

Ozzie75 - when you have time do give me your input please. Thank you.

With due respect "It would be good to have discussion with Forumers based on reliable information."

Thanks anyway!

Sumatec is not debt free - please get a qualified accountant to decipher their audited 2013 annual report and their latest quarterly report.

To me this is all water under the bridge - as investors - what do we do next?? That is the key!

It would be good to have discussion with Forumers based on reliable information. This way, we know what course of action we should take, I.e to hold, re-load or exit OR to cut and buy back later cheaper .

If someone sold 100,000 shares at 50 cents today he can easily re-load 250,000 shares at current price if we know this is the bottom.

Ozzie75 - the amount was already captured in 2013 audited account. It's just that nobody took real serious notice of it till now.

Please look at page 102 and item No. 32.

http://announcements.bursamalaysia.com/EDMS/subweb.nsf/all/14CAA645F762D0DB48257CED00198FEB/$File/SUMATEC-AnnualReport2013.pdf

dreamhunter instead of trying to "pick-a-fight" with here, it is worth nothing that everyone is entitled to their opinion but one's opinion should be at least be reasonable sound.

Dreamhunter - it is very obvious you at not a businessman or know the structure of setting up a business. I have said - please read carefully and don't blindside others - you keep doing that -

The utilize loan of RM265million is by ASSOCIATE companies - which mean Sumatec owns directly or indirectly.

Fact versus fiction - I rather stick to facts - you carry on with your fiction dreamhunter!

Thank you!

A12 Contingent liabilities
The Company has given corporate guarantees amounting to RM471 million to suppliers, licensed banks and financial institution for banking facility granted to the associate companies. Consequently, the Company is liable for the amount of banking facilities utilized by the associate companies totaling RM265 million.
______________________________

We Are ALL shareholders TigerSumantara - so please let's just get the real truth and if we can find out exactly what is going on we can then decide what to do next. Whether to re-load and average down and what would be a good entry, whether to abandon ship if the ship so going to sink further and come back in later at cheaper price, whether to just wait if the bottom is now?

If we are nearing the end and we have some reliable Information - can can have some assuring comfort even during this depressing times

Dreamhunter - please can you stop just blindsiding others

The audit account just released on 27 Nov 2014 also stated the liabilities which has been utilized up to RM265 million. When will this profits be enough to Pay for this loan?



A12 Contingent liabilities
The Company has given corporate guarantees amounting to RM471 million to suppliers, licensed banks and financial institution for banking facility granted to the associate companies. Consequently, the Company is liable for the amount of banking facilities utilized by the associate companies totaling RM265 million.

http://announcements.bursamalaysia.com/EDMS/edmsweb.nsf/all/70FD44461E033F5448257D9D0039AA34/$File/Q3%202014.pdf

Please read carefully Page 9.

Now can you do some homework instead of just picking on others all the time?

THANK YOU!!!!

Why people just come here with 5 posting claim know so much? Please stop deceiving others with more rumors. I feel like the same people talking to each other.

Please if you want to help others, don't continue to flood this forum with more empty promises and tales. We are already hurting.

If anyone have very good points to boost the share price, can they go and share with the management and Sumatec and boost the share price instead of posting here only? Here we can only read and do nothing.

Reality is we see price dropping every week. So if anyone do have a great plan to save the company, please go and share with the owners or call for a EGM. Thank you.

I think all of you have to go and read the STAR BUSINESS today and understand the article by Petronas very carefully

I think all of you have to go and read the STAR BUSINESS today and understand the article by Petronas very carefully

I think all of you have to go and read the STAR BUSINESS today and understand the article by Petronas very carefully

Looiks - don't play on peoples hopes - you have been saying a lots of "theories" since the price have been at 50 cents. I just went back and read this forum.

It is indeed sad that it has come to this. It would be very much appreciated if someone can tell the real story why the counter is still dropping despite announcing profits and if all the stories are good.

I am invested and I would want to know when will the bleeding stop and if need be when will be the right time to re-load to average down.

I don't need a CLOWN to keep telling me everything is good when it is not, as the price keep sliding down.

It would be indeed very grateful if insight is shared where we all benefit POSITIVELY - not rumour where we suffer!

Sorry - but I am a bit upset as some people keep writing and saying everything ok and good but the reality is the counter keep bleeding. Need good forumers giving good advise please. Not naysayers nor riddles which just confuse the daylights of people and are playing games with others hopeful mind.

Looiks - I do not understand what you trying to say. The numbers do the talking? The counter is red. Can you please explain why? Especially when we have not finalize the RI yet. We should be in positive territory in the share price to attract investors, not dropping in red sea each day.

WHY STILL DROP AFTER DECLARING GOOD PROFITS??? I DONT UNDERSTAND.

ANY good sifus here can decipher this riddle?

Let's hope for a green green day today!!!! Go SUMA go!

Just saw the QR report - still waiting for Timor Leste final approval for Kitan - hope they get this soon this year, then they can show profits next quarter and change their accounting books forever going forward.

2,500 barrels at current prices how much profits?

When will the approval for kitan production come? Only then this counter can fly! Then in will be generating income. Otherwise it is just reporting operating expenses and future plans always.

Why everyone so angry here? Calm down please.